Got $1,000? Here Are 2 Top Growth Stocks to Buy That Could Double Your Money
The stock market regained its mojo in 2023 thanks to multiple factors, including cooling inflation and a resilient economy. It also benefitted from a terrific rally in technology stocks driven by the popularity of artificial intelligence (AI) applications. That rally helped the Nasdaq-100 Technology Sector index grow an impressive 40% so far this year.
Tech stocks that benefitted include Confluent (NASDAQ: CFLT) and Super Micro Computer (NASDAQ: SMCI), which saw sharp jumps in 2023. While share prices of Confluent are up 33% this year, Super Micro Computer has jumped an astonishing 247% so far in 2023. Investors who were fortuitous enough to put $1,000 in these two growth stocks at the end of last year are sitting on nice gains right now.
But what if you missed the rally in these two stocks and you have $1,000 in cash right now that isn't needed to pay monthly bills, to clear any high-interest debt, and/or to set aside for a rainy day? Should you buy Confluent and Super Micro Computer with that money in anticipation of more upside? Let's find out.
Source Fool.com
